The chances for Uruguay of having significant commercial reserves of natural gas and oil are on the increase according to recent reports from US Energy and Geology agencies and published in the Montevideo press.
Spain’s government is concerned that the country’s hydrocarbons flagship Repsol-YPF could fall into foreign hands following the 30% voting block made up of Mexico’s Pemex and construction company Sacyr Vallehermoso.
President Cristina Fernandez opened Friday in Patagonia the largest wind farm in Argentina. The Rawson Aeolic Park will eventually generate 80 MW sufficient to supply 100.000 homes according to the private investors.
Oil prices fell on renewed economic concerns, putting Brent on track for about a 10% drop this month and its biggest quarterly decline in five quarters.
Falkland Islands oil and gas explorer Borders & Southern Petroleum has swung into the black, just months before it embarks on its drilling program in the South Falkland Basin. The company posted pre-tax profits of 761.211 dollars in the six months ended June 30, compared to a loss of 672.185 in 2010.
President Cristina Fernández de Kirchner (CFK) opened on Wednesday the country’s third nuclear plant Atucha II, in the Greater Buenos Aires district of Zárate, and highlighted the fact that “Argentina is leader in the use of nuclear power for peaceful purposes.”
A judge in Brazil has ordered a halt to construction of a multi-billion-dollar dam project in the Amazon region. Judge Carlos Castro Martins barred any work that would interfere with the natural flow of the Xingu river.
Falklands based Argos Resources expects to drill its first well on license PL001 in the North Falkland basin in late-2011 or early-2012, using the semi submersible rig Ocean Guardian, currently operating in the Islands’ waters.
Rockhopper Exploration is in talks with Diamond Offshore about lining up another drilling slot as it spuds a well off the Falkland Islands. Diamond Offshore are the owners of the Ocean Guarding drilling rig contracted by Desire Petroleum and involved in the current hydrocarbons exploration round.
A massive power blackout on Saturday paralyzed crucial copper mines in Chile and darkened vast swaths of the country including the capital Santiago before energy started to be restored, officials said.